Litecoin (LTC) is a cryptocurrency that was designed to provide fast, secure and low-cost payments by leveraging the unique properties of blockchain technology. It’s currently trading for $140.55 with a 24-hour trading volume of just under $900 million.
This short guide explains what Litecoin is, if it’s worth investing in, and the best places to buy Litecoin today.
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What is Litecoin?
Litecoin was created based on the Bitcoin (BTC) protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times and a few other factors.
Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments.
Litecoin was released via an open-source client on GitHub on Oct. 7, 2011, and the Litecoin Network went live five days later on Oct. 13, 2011.
Since then, it has exploded in both usage and acceptance among merchants and has counted among the top ten cryptocurrencies by market capitalization for most of its existence.
Behind Bitcoin, Litecoin is the second most popular pure cryptocurrency. This success can be largely attributed to its simplicity and clear utility benefits.
As of January 2021, Litecoin is one of the most widely accepted cryptocurrencies, and more than 2,000 merchants and stores now accept LTC across the globe.
Should I buy Litecoin today?
Litecoin’s performance has been lackluster recently, but it’s picking up. What’s more, most price prediction platforms have a positive outlook on the unique token. Still, do not take investment advice at face value and take the time to perform your own market research.
Litecoin price prediction
According to currency.com, Litecoin might continue growing past its all-time high, reaching $500 at some point not determined by the analyst. Coin Price Forecast is more specific, predicting a price of $362 at the end of 2025. This is a year to year change of 142%.
In the first half of this year, they anticipate the Litecoin price will climb to $176. It will close the year at $209 and be around $287 in the first half of 2023, peaking at $379 by the end of second half.
Litecoin on social media
Quick fact.#Litecoin is still the #1 accepted altcoin.$LTC 🤝 pic.twitter.com/X4ZVmQxURV
— Popara (@cryptopopara) January 12, 2022
